ActionIQ empowers both technical and business teams, providing them aplatform to gain insights and actions from customer data without waiting for IT. It optimizes marketers' targeting strategy through advanced segmentation and modeling, reduces customer acquisition costs and provides auser-friendly interface to control real-time access to customer data.
Aglobal, multi-banner retailer with more than $5B in annual revenue, 500+ stores, web, and mobile properties, was facing severe market challenges. The issues included rising customer acquisition costs and flat or declining customer lifetime value. These challenges necessitated an urgent need to revamp their marketing strategies to ensure continued business growth.
2.
Task
Needed Modern Technological Overhaul
The retailer's primary objective was to modernize its campaign tools and marketing technology. This required implementing anew system that supported agile, data-centric processes crucial for deploying successful personalization initiatives. The goal was to enable amore efficient and impactful customer engagement strategy by harnessing advanced data capabilities.
3.
Action
Implemented a New CDP
To address these challenges, the retailer decided to leverage anew Customer Data Platform (CDP). This CDP served as acentralized hub, enabling business users to orchestrate personalized brand experiences in real time across multiple channels. By transitioning from legacy systems to modern marketing technology, the retailer empowered its business users with self-service access to customer data, analytics, and cross-channel orchestration capabilities.
4.
Result
Drove Superior Customer Experiences
The implementation of the new CDP significantly streamlined the retailer's marketing operations. As aresult, they increased their speed-to-market, reduced IT costs, and utilized 1000x more data for personalization. These improvements led to the retailer achieving double-digit growth by providing superior, personalized customer experiences, ultimately navigating the market pressures successfully.
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